Solar Opportunities - New Mexico

Solar Offerings and Incentives

 If you install solar on your home, be sure to check the available state and federal tax incentives .  Residents in the Taos area may prefer to purchase solar power from the co-op. Details can be found below.

State and Local Incentives

Solar Market Development Tax Credit   

In New Mexico, a 10% tax credit of purchase and installation costs is offered to individuals who install solar thermal and solar photovoltaic systems on their properties. For residential systems, photovoltaic and solar thermal systems could be eligible for separate tax credits of up to $9000 each. More information about eligibility requirements and how to the claim the tax credit can be found here.

Property Tax Exemption for Residential Solar Systems

New Mexico exempts installed residential solar energy systems from property tax assessments. The exemption includes solar space heat, solar water heat, and photovoltaic systems. The exemption is nullified if the property is sold. More information can be found here.

Solar Energy Gross Receipts Tax Deduction  

New Mexico also offers a gross receipts tax deduction, which deducts any revenue generated by the sale and installation of solar systems used to provide energy resources on the property on which it is installed. Eligible systems include passive solar space heat, solar water heat, solar space heat, solar thermal electric, and photovoltaic systems. More information can be found here.

Property-Assessed Clean Energy (PACE) Financing

New Mexico has authorized towns to offer PACE financing. This program allows property owners to borrow money to pay for clean energy systems. This program is a local option, so check with your local government to find out if it is available in your town. Eligibility requirements and more information can be found here. 

Federal Residential Renewable Energy Tax Credit

A federal-level investment tax credit (ITC) is now available to consumers wanting to purchase small wind turbines, solar panels, or geothermal heat pumps.  The ITC, written into law through the Emergency Economic Stabilization Act of 2008, is available for equipment installed from Oct. 3, 2008 through Dec. 31, 2016. The credit covers 30% of the equipment cost, though some technologies have a credit cap of $2000. More details and a complete list of eligible technologies can be found here.

Local projects

Taos Charter School Campus Solar Array

Description: This 100 kilowatt solar array is Located on the property of Taos Charter School and  operated by Kit Carson Electric Cooperative, this project produces power which can be purchased by residents in the area.

Eligibility: Members of Kit Carson Electric Cooperative

More information can be found here, or contact Mary Emery at memery1043@gmail.com or call 575-770-8382.